In an effort to offset the negative impacts of inflation, Iowa lawmakers passed a law (Iowa Code Section 97B.49F) to provide lump-sum payments called dividends to retired IPERS members.
November Dividend. This dividend is provided to members who retired June 30, 1990 or before, and is aptly named for the month in which it is issued! The November dividend is paid once a year. It does not increase a retiree's monthly benefit amount.
Posted 11/10/14: Information on the 2014 November dividend payments
Favorable Experience Dividend (FED). The FED, more formally called the Favorable Experience Dividend, was issued to members who retired after June 30, 1990, or to their beneficiaries. The final FED payments were made in January 2014. There are no funds available to provide any additional FED payments or a substitute for the FED payments. IPERS' Benefits Advisory Committee continues to look for a solution; however, the main priority is to improve funding for IPERS' base benefits.
Posted 11/4/13: January 2014 FED frequently asked questions